PROVIDENCE – Citizens Financial Group Inc. has pledged to cut greenhouse gas emissions in half by 2050, aligning with recommendations set in the Paris Climate Agreement.
The parent company of Citizens Bank announced its emissions goals in a report published June 29.
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The 2020 Corporate Responsibility Report highlighted a number of the achievements, including in small-businesses loans, charitable donations, diversity in hiring and environmentally focused changes.
As part of its commitment to addressing climate change, the company will cut emissions from its 2016 baseline 30% by 2025, and 50% by 2050. As of 2020, Citizens has already reduced greenhouse gas emissions by 25% from the 2016 baseline.
Other highlights from the report include:
- $1.1 billion in equity and loans to community development initiatives.
- $4.1 billion in loans for home purchases or refinancing to eligible low- and moderate-income borrowers or those in designated census tracts.
- $1.4 million in loans to 38,000 small businesses with under $1 million in sales.
- $1.2 million in matching gifts to charitable organizations.
- 15 million meals donated in partnership with Feeding America.
- 122,000 hours volunteered by Citizens employees.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
